CBN Disbursed $3trn Loans to Nigerian Businesses to Cushion Impact of Covid-19

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Godwin Emefiele - This Day Live

Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has revealed that the apex bank has so far distributed about $3 trillion to households, Small and Medium Scale Enterprises (SMEs), smallholder farmers, pharmaceutical companies as a buffer against the impact of the Covid-19 pandemic.

He pointed out that the job of the CBN was to complement the efforts of the fiscal side, emphasizing that it had never happened in the country where the bank will lend funds for a tenure of 10 years with a two-year moratorium like the CBN had done in recent times.

“And I can tell you this, between 2020 and now, our data shows that we have disbursed at least N2 trillion, almost N3 trillion in loans to households, to Micro, Small, and Medium Enterprises, to smallholder farmers, to pharmaceuticals and health institutions”, said Emefiele.

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